Digital payments platform Paytm has emerged as India’s favourite app for online transactions, in a survey by YouGov that asked Indian shoppers about their most trusted online brands. Over 40% of those surveyed said they trust Paytm. Interestingly, Google Pay was second, with a trust vote of 27% of those surveyed. Flipkart-owned PhonePe ranked third with 10% respondents saying they rest their trust in the brand.
Overall, Paytm along with Jio and MakeMytrip, emerged as the most trusted online brands in India, showing that Indians prefer home-grown brands over foreign-owned companies. Google Pay, which is spending heavily in cashbacks for customer acquisition, is ranked second despite its global origins.
YouGov, an internet-based market research and data analytics firm, surveyed 1,017 people aged 18 to 40(+) on the internet in India recently.
“While Indians are more trusting of global brands in areas of online shopping and e-commerce, Indian brands are more reliable when it comes to making online payments, for online travel bookings and while choosing a mobile network provider,” the survey said.